Intraday clues eyed
The NZDUSD shot higher on the "less dovish" RBNZ statement/comments. The price before the release was trading between the 100 day MA aat 0.6721 and the 200 day MA at 0.6751. The run higher took the price up to 0.68513, before retracing toward the 38.2% of the move higher today at 0.68025. Holding above the 38.2% keeps the buyers in control. PS the price did dip back below the 200 hour MA (at 0.681018) but is back above currently. Watch the 200 hour MA for intraday clues now. Move below is more bearish. Stay above is more bullish.
Drilling to the 5 minute chart, the pair just moved below the 100 and 200 bar MA on that chart at 0.68189 level. That does tilt the intraday bias a little more to the downside. Confirmation of more downside potential would need to see the 200 hour MA at 0.68103 and a move below the 38.2% and the 0.6800 level.
